Economic Research Forum Concludes with Focus on Industry 4.0's Role in Transforming GCC Economies
The Economic Research Forum, hosted by the Mohammed Bin Rashid School of Government (MBRSG), concluded after two days of insightful discussions on the transformative potential of the Fourth Industrial Revolution (Industry 4.0) across the Gulf Cooperation Council (GCC) region. The event, held both in-person and virtually on 15-16 October 2024 at MBRSG’s new City Walk headquarters, highlighted the role of smart technologies and digital innovation in shaping the future of industry and commerce in the GCC.
On the second day, a key roundtable titled ‘Smart Factories in GCC Countries: Facts, Trends, and Potential’ explored how Industry 4.0 can accelerate the industrialization of the region. The discussion was moderated by Dr. Adel Ben Youssef from Université Côte d'Azur and included insights from industry experts such as Raimund Klein from the International Centre for Industrial Transformation (INCIT), Rafik Feki from the United Nations Industrial Development Organisation (UNIDO), and others. The conversation emphasized the impact of initiatives like Saudi Arabia’s Vision 2030 and the UAE's 'We the UAE 2031' vision in driving economic transformation.
Keertana Subramani from MBRSG presented findings from the 2024 Global Economic Diversification Index (GEDI), highlighting the growing importance of digital trade in fostering economic resilience and diversification.
A subsequent session, ‘Skills and Impacts on the Labour Market’, led by Prof. Christian Haefke from New York University Abu Dhabi (NYUAD), examined how smart manufacturing technologies are reshaping the GCC labour market, necessitating the development of new skills.
The forum concluded with a GCC High-Level Policy Seminar, which analyzed the adoption of Fourth Industrial Revolution technologies across the region, touching on smart cities, entrepreneurship, and labour market evolution. The event served as a prelude to the upcoming First Global Conference on Economic Diversification, set for 31 October - 1 November 2024, which will further explore economic policies and global trends.
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